Dr Martens awaits private equity tie-up
Private equity firms have put their best foot forward and submitted first-round bids of up to £120m for Dr Martens, the British footwear brand made famous by skinheads but now favoured by a trendier crowd.
The owner of Dr Martens hired advisers at the investment bank Rothschild earlier this year and first-round bids were due last week. Private equity firm, Electra Partners, is thought to be among the suitors but others are known to be looking at the company which is run by Max Griggs whose father acquired the brand in 1960 from its German owners.
While the company hit tough times and moved its production to the Far East in 2003, Dr Martens has kicked on in recent years and now generates a large proportion of its sales overseas in more than 60 countries from the US to Japan.
A source said a key attraction for a potential buyer would be ramping up its sales in Asia and North America. Dr Martens, which returned some manufacturing to the UK in 2007, now sells boots, shoes and clothing.
Arsenal strengthened their grip on a top-four finish with a straightforward 3-0 win over Hull City.
Easter egg hunt horror as mother finds dead body under deck of house
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
Unbeliebable: The White House offer 'no comment' to anti-Justin Bieber petition
Loch Ness Monster found on Apple Maps?
Royal Tour 2014: Is the Duchess of Cambridge the only person ever to climb into a fighter jet wearing a dress and high heels?
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 Easter egg hunt horror as mother finds dead body under deck of house
- 2 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 3 Unbeliebable: The White House offer 'no comment' to anti-Justin Bieber petition
- 4 Loch Ness Monster found on Apple Maps?
- 5 How We Met: Alison Moyet & Emma Kennedy: 'I knew we'd be friends because she was happy to make a prat of herself'
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...